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Filing of Form 10A & 10AB: CBDT extends due date to June 30 RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimes Israel-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITAT TRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum Leasing I-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITAT Technology Board okays funding of Dhruva Space's Solar Array Project I-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITAT Health Secy visits Bilthoven Biologicals, discusses production of Polio Vaccine I-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITAT Study finds Coca-Cola accounts for 11% of branded plastic pollution worldwide I-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITAT Delhi HC says conspiracy against PM is a crime against State I-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITAT Brazil makes new rules to streamline consumption taxes I-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITAT Biden signs rules mandating airlines to give automatic refunds for delayed or cancelled flights I-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITAT BYD trying to redefine luxury for new EV variants GST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HC SC asks EC to submit more info on reliability of EVMs Right to Sleep - A Legal lullaby


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New Delhi, February 26, 2019 I-T - Imposition of conditional pre-deposit is not necessitated in every case seeking stay of demand: HC

Mumbai, February 26, 2019 CX - Valuation - Even if buyer company is an inter-connected undertaking, it cannot be treated as a 'related person': CESTAT

Pune, February 25, 2019 I-T - Cash received as gift cannot be treated as such if donee fails to explain reason for piece-meal deposit of cash amount purportedly received in lump-sum: ITAT

Gauhati, February 25, 2019 I-T - Once assessment order passed by ITO merges with Appellate order of CIT(A), it cannot be corrected in revision proceeding u/s 263: HC

Mumbai, February 25, 2019 I-T - Assessee cannot resurrect before Tribunal any claim which was revoked before CIT(A) & without pointing out any error which led to withdrawal of such claim: HC

Mumbai, February 25, 2019 ST - Premium paid on deposit insurance to DICGC is not an Input service: CESTAT

Mumbai, February 25, 2019 I-T - Taxes offered by assessee at erroneous rate, if promptly revised without any opposition on being noticed, shows bona fide and hence attracts no penalty: HC

Ahmedabad, February 23, 2019 Cus - 'Pre-import condition' inserted by Notf. 79/2017-Cus renders Advance Authorisation scheme nugatory, hence is ultra vires : High Court

Ahmedabad, February 22, 2019 I-T - SETCOM cannot pass order based on auxiliary submissions of CIT to bolster incomplete report challenging validity of assessee's application for settlement: HC

Hyderabad, February 22, 2019 I-T - If AO's order is based on wrong application of Accounting Standard to financial statements of assessee, it is a fit case for invocation of powers u/s 263: ITAT

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